Question

A 10% increase in cigarette prices has been found to result in a _____ decrease of smokers.
A.
2%
B.
4%
C.
10%
D.
20%

Answer 1

The best answer would be B, 4%. The amount you increase a cigar by should have slightly less than half of the number of smoke-buyers as a result, 2% is too low and it will not decrease by the same percentage the price increased.

Answer 2

Answer:

B. 4%

Explanation: